Watch: SBI posts surprise loss in third quarter

State Bank of India on Friday reported a surprise loss for the third quarter, hurt by lower trading income on "hardening" bond yields and higher bad loan provisions. SBI made a net loss of 24.16 billion rupees ($375.10 million) for the three months ended December 31, versus a profit of 18.20 billion rupees a year earlier. Gross bad loans as a percentage of total loans stood at 10.35 per cent at end-December, compared with 9.83 per cent in the previous quarter. Total provisions, including for bad loans, rose 12.6 per cent to 141.71 billion rupees. Here is what SBI chairman Rajnish Kumar has to say about their performance.